VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Saturday, January 10, 2026

Stock Comparison

Elevance Health, Inc. vs Visa Inc.

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Elevance Health, Inc.

ELV · New York Stock Exchange

Market cap (USD)$82.8B
Gross margin (TTM)
Operating margin (TTM)
Net margin (TTM)
SectorHealthcare
IndustryMedical - Healthcare Plans
CountryUS
Data as of2026-01-09
Moat score
74/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Elevance Health, Inc.'s moat claims, evidence, and risks.

View ELV analysis

Visa Inc.

V · New York Stock Exchange

Market cap (USD)$678.7B
Gross margin (TTM)80.4%
Operating margin (TTM)60%
Net margin (TTM)50.1%
SectorFinancials
IndustryFinancial - Credit Services
CountryUS
Data as of2025-12-21
Moat score
77/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Visa Inc.'s moat claims, evidence, and risks.

View V analysis

Comparison highlights

  • Moat score gap: Visa Inc. leads (77 / 100 vs 74 / 100 for Elevance Health, Inc.).
  • Segment focus: Elevance Health, Inc. has 3 segments (85.2% in Health Benefits); Visa Inc. has 4 segments (35.9% in Data processing revenue).
  • Primary market structure: Oligopoly vs Oligopoly. Pricing power: Moderate vs n/a.
  • Moat breadth: Elevance Health, Inc. has 8 moat types across 3 domains; Visa Inc. has 7 across 4.

Primary market context

Elevance Health, Inc.

Health Benefits

Market

U.S. health insurance and managed care

Geography

United States

Customer

Employers, individuals, and government programs

Role

Payer / managed care organization

Revenue share

85.2%

Visa Inc.

Data processing revenue

Market

Payment transaction processing (authorization, clearing and settlement) for VisaNet and related network access

Geography

Global

Customer

Issuers, acquirers, payment processors

Role

Network processor / switch (authorization, clearing, settlement)

Revenue share

35.9%

Side-by-side metrics

Elevance Health, Inc.
Visa Inc.
Ticker / Exchange
ELV - New York Stock Exchange
V - New York Stock Exchange
Market cap (USD)
$82.8B
$678.7B
Gross margin (TTM)
n/a
80.4%
Operating margin (TTM)
n/a
60%
Net margin (TTM)
n/a
50.1%
Sector
Healthcare
Financials
Industry
Medical - Healthcare Plans
Financial - Credit Services
HQ country
US
US
Primary segment
Health Benefits
Data processing revenue
Market structure
Oligopoly
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
n/a
Moat score
74 / 100
77 / 100
Moat domains
Legal, Demand, Supply
Network, Demand, Supply, Legal
Last update
2026-01-09
2025-12-21

Moat coverage

Shared moat types

Brand TrustData Workflow LockinSuite Bundling

Elevance Health, Inc. strengths

Concession LicenseScale Economies Unit CostGovernment Contracting RelationshipsScope EconomiesSwitching Costs General

Visa Inc. strengths

Two Sided NetworkClearing SettlementCapex Knowhow ScaleCompliance Advantage

Segment mix

Elevance Health, Inc. segments

Full profile >

Health Benefits

Oligopoly

85.2%

CarelonRx

Oligopoly

12.8%

Carelon Services

Competitive

1.9%

Visa Inc. segments

Full profile >

Service revenue

Oligopoly

31.5%

Data processing revenue

Oligopoly

35.9%

International transaction revenue

Oligopoly

25.4%

Other revenue

Competitive

7.3%

Want the full wide moat stocks list?

Browse the full ranking of wide moat stocks, updated with moat scores and segment context.

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Looking for expansion-stage stocks?

Proven models entering the expansion stage with unit economics that work.

View expansion-stage stocks

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.